Examlex
If the government wants to minimise the welfare loss of a tax, it should tax goods with more inelastic demands or supplies.
Concrete Operational
A stage in Piaget's theory of cognitive development where children aged 7-12 years develop logical thinking but still struggle with abstract concepts.
Tertiary Circular Reactions
A cognitive developmental phase in Jean Piaget's theory, occurring around 12 to 18 months of age, during which infants begin to experiment and explore the properties of objects through novel actions.
Primary Circular Reactions
An early developmental phase in infants where they repeat pleasurable actions centered on their own body.
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